Circle Holdings Plc Chief Executive Officer Ali Parsa relinquished his post, and the U.K. hospital company said Steve Melton will replace him on an interim basis.
Parsa, a 47-year-old former Goldman Sachs Group Inc. banker and a founder of the company, is leaving by “mutual” decision to pursue other projects, Circle spokeswoman Christina Robinson said by phone. He will remain a non-executive director and the company will search for a permanent successor, she said.
Melton, 50, joined the company in 2008 and led the opening of Circle’s hospitals in Bath and Reading, England, the London-based company said in a statement. He is the company’s head of mobilization as well as a director of Nations Healthcare Ltd. and several affiliates of Circle. He has a 1.5 percent stake in Circle Partnership Ltd., a unit of Circle Holdings, the company said.
Circle also runs a U.K. government hospital in Hinchingbrooke, England that it took over from the National Health Service in February, the first NHS district hospital to be operated as a franchise. The hospital was running a deficit of more than twice that planned in the first half of its fiscal year, a government auditor said on Nov. 8.
The stock, which began trading in June 2011, has dropped 58 percent this year.